Mini-Budget: Kwasi Kwarteng to announce tax cuts, support for energy bills – BBC News
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Summary
- Chancellor Kwasi Kwarteng to outline tax cuts and support for energy bills during mini-budget later
- The measures could include reducing stamp duty for property purchases and scrapping a planned rise in corporation tax
- Liz Truss’ new government has already confirmed it will roll back the rise in National Insurance and introduce low tax zones.
- Kwarteng is also expected to end the cap on bankers’ bonuses
- The government argues its policies will help boost economic growth, which has lagged other leading economies
- But critics argue the measures are costly at a time when public debt is already high and the cost of borrowing is rising.
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